ISEQ down as Abbey falls 30 cent
The ISEQ index of Irish shares fell 11.80 points to 5581.39 today, with the biggest fall produced by building group Abbey, where shares were down by 30 cent to €8.15.
Abbey announced this morning that it was to move its listing from the Official List of the Irish Stock Exchange to the Developing Companies Market of the Irish Stock Exchange. In the UK, the company is moving from the Official List of the UK Listing Authority to the Alternative Investment Market of the London Stock Exchange.
Abbey said it expects the listings to be cancelled and the admission to the DCM and AIM to become effective from November 16.
"After careful consideration and wide consultation, the board of Abbey has concluded that the AIM together with the DCM are the most appropriate markets for its shares," a statement from the company said, adding that: "The AIM is a fast growing market focussed on growing companies."
News was mixed for the financials, AIB fell by six cent to €13.74 while Bank of Ireland was down 12 cent to €10.87. Some positive territory was gained by Irish Life and Permanent (+3 to €12.85) and Anglo Irish Bank (+14 to €15.12).
